Friday, July 17, 2009

BREAKING: Rattner reportedly quitting post as head of Auto Task Force

Steve Rattner, the former Wall Street executive who was tapped by the Obama Administration run point for the Auto Task Force, is reportedly stepping down after five months on the job. According to a statement from Treasury Secretary Timothy Geithner, Rattner (above, far right) will now "transition back to private life and his family in New York City." He added, "I hope that he takes another opportunity to bring his unique skills to government service in the future."

With Chrysler and General Motors recent emergence from bankruptcy, now is probably as good a time as any to transition to new Task Force leadership. Taking over for Rattner will be Ron Bloom, a former advisor to the United Steel Workers union. Bloom's main focus will reportedly be to "[protect] the substantial investment the American taxpayers have made in GM, Chrysler and GMAC."